UBS to Report
Big Loss Tied
To Credit Woes

By

Jason Singer,

Carrick Mollenkamp and

Randall Smith

Updated Oct. 1, 2007 11:59 p.m. ET

Swiss banking giant UBS AG, which recently ousted its chief executive in the wake of losses at an in-house hedge fund and defections of top investment bankers, plans to write down as much as 4 billion Swiss francs, or $3.41 billion, in assets, including securities tied to U.S. subprime mortgages.

The big write-downs will make UBS one of the highest-profile casualties of the recent turmoil in global credit markets and raises questions about the management of its securities business, especially its expansion into the U.S....